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A judge imposed a small-than-expected $125 million fine on Ripple, the company that operates XRP. But the SEC wasn't happy with that ruling, and the agency recently filed a notice of appeal .
In 2020, XRP's parent company, Ripple, was sued by the Securities and Exchange Commission (SEC). The regulator claimed that the company sold XRP as an unregistered security, a pretty big no-no.
The good news is that Ripple has capped XRP's supply at 100 billion tokens. On the demand side, Ripple's adoption will ultimately determine its success and XRP's investment potential.
The firm funds accepted startups with up to US$50,000 (equivalent to $64,352 in 2023) in XRP, Ripple's native currency, in exchange for a 3% to 6% stake in diluted common stock. Mentorship and support is provided by CrossCoin and Ripple Labs, Inc. [16] Ripple also developed early partnerships with companies such as ZipZap. [17] [18]
The open-source project was originally called "Ripple", the unique consensus ledger was called the Ripple Consensus Ledger, the transaction protocol was called the Ripple Transaction Protocol or RTXP and the digital asset (known as "ripples") using XRP as the three-letter currency code to follow the naming convention of BTC for Bitcoin.
Aside from broader market-related tailwinds, there are other token-specific factors driving today's positive price action with XRP. On Saturday, XRP saw its open interest surge to a record high.
In April 2012, Garlinghouse joined the board of video startup Animoto. [5] He joined Hightail and served as its CEO until September 2014, leaving after a disagreement with the board regarding company direction. [7] Garlinghouse joined Ripple as COO in April 2015, reporting to then CEO and co-founder Chris Larsen.
Second, Bitcoin's latest halving this April made it even harder to mine new coins. XRP's price jumped earlier this month after Ripple finally settled its SEC lawsuit. Ripple was only fined $125 ...